01:30 - Is there a way for the community to make suggestions? 02:37 - Performance of smart contracts compared to Ethereum? 05:15 - How will an increase of hbar price affect transaction cost? 07:17 - Could Hedera be used as a Lightning Network for Bitcoin? 10:04 - Is there a plan to make sure lost keys aren't a deflationary factor? 11:12 - Where can people get information about new tokens on Hedera? 12:10 - Is quantum computing a threat to crypto-currency? 17:50 - Is a Council consisting of big corporations a danger? 22:31 - What is Hedera's CO2 impact? 24:25 - How many employees does Hedera employ? How to intern? 27:04 - Will Hedera lead to a Facebook alternative? 29:00 - Are there use cases still to be discovered? 31:42 - Are Ponzi schemes possible on Hedera? What are ERC-20s called in Hedera? 35:00 - How can I contribute if I'm not a developer? 36:33 - Can a down node cause transactions to be lost? 38:56 - How will major enterprises obtain hbar? 41:26 - What is hbar's utility to the network? 42:57 - Is there a plan to increase adoption amongst the crypto community/De-Fi? 46:09 - How could a stock market be implemented on Hedera? 48:54 - What is Hedera's approach to adoption in Authoritarian countries? 50:26 - Quarantine tips from Mance and Leemon. 51:28 - A physical coin auction to benefit charity.
The January townhall had the titles of the questions sequenced in the video, will this be added? its helpful to reference the original question when considering the answer. Thanks!
would have loved some more info on the smart contract performance in the future. you kind of avoided the question by immediadly going to the consensus and token service that run at native speeds. I get that the EVM on top of Hedera is currently limited to the tps of ethereum roughly but would realy like to know if that will improve in the future and how..
If you RU-vid "simple explanation of Hashgraph". That will show you how the algorithm works. Hedera is simply using the public version with way more functionalities.
We have 100 millions fractions already, even if this becomes the most profitable investment of our lifetime, we won't see the day where they need to have a smaller denomination. And if the day does happen, there's a governing council that can address this issue if it ever does become an issue.
@@Supremax67 Hey Sup, I just wanted to ask an opinion. My original Hedera Wallet set up before they went public is still holding my hbars and seems to work fine but plenty of people are telling me they may not be safe there. Any thoughts?
@@davehooper6481 -- The wallet access could cease anytime as it is no longer supported. But as long you have you account ID and private key, it can be accessed elsewhere. The wallet is just a tool, it doesn't actually store your coins, it only gives you access to view and transact them. Your actual storage location for your coins is your account ID.
@@davehooper6481 just make sure you have your mnemonic pass phrases, public AND private key written down and stored securely. Test out on myhbarwallet.com that those pass phrases and private key can give you access to your account and hbars. Then you should be all set
What is the plan for making sure that nodes in areas where power is more expensive don’t get overlooked when staking due to the payout not being as high a margin as a location where power is cheaper? I would hate to see people avoid nodes and thus making them less of a player in the consensus process
Electricity is a non factor when it comes to the cost of operating a node. This isn't a mining node. Your question is more suited for proof of work as it is a constant issue with such networks. He mentioned in the video 375 watts of electricity for a node. If you consider 1000 TPS, that means every transaction uses 0.375 watt/sec. (Note that electric company charges for an hour of Watts usage, not seconds.)
@@Supremax67 I understand all that. But the price per watt is different everywhere and in some places much more expensive. I guess you helped clarify or get me to think about staking not being affected, however the node owner who pays their power bill will be the one affected. Example, price per kilowatt hour is 10 cents in my county, but in some other place may be 20 cents per watt hour. So the person paying the bill for the nodes will pay in my county, approximately 10 cents per 3 hours if you assume 333 watts for the node. In the other location it would be double that assuming same hardware and 20 cents per kWh That does doesn’t affect the proxy staking but would affect the node owner if I’m thinking of this correctly.
@@hausers1343 -- I am very familiar of price per watts, but you also have to consider the number of transactions per second. Feel free to take electrical bill cost for 375 KW/H and divide that by 3,600,000 (1000 TPS). No matter where you live, electricity won't be the deciding factor. We can take Germany for example, 38 cents per KW/H. $15 an hour running the node. However, you helped with 3.6 million transactions per hour, which has an average electricity cost of $0.0000041 per transaction. Feel free to use any numbers you want in the calculations.
@@Supremax67 thanks for the details. I hope hedera succeeds and people can understand the tremendous benefits of using less power to provide so much more value. Again I appreciate the info and details you provided.
Having the fee set in dollar value is a double edged sword, it will make it so that company’s cannot buy a preset amount of network usage in hbars as the hbars have a fluctuating value within the network. A way to fix this would be to have a way to lock hbars into the network and be granted network access equal to the value at the time of the lock, which would allow company’s to still buy a preset amount of network usage while not hurting tokenomics and streamlining the process of using the network.
You are looking at the glass half empty when it's actually 3/4 full. How do you think international companies operates with FIAT? They buy a large volume of their currency of choice when the trade is beneficial and only buy on needs when it is not. This method has work for international money for decades, its an efficient system. Only difference here is instead of having 2 currencies of different country, 1 is a currency in Fiat and the other, HBAR. Same principles being applied. What you are proposing breaks all logic because you are asking a guarantee rate regardless where the price goes. That's call a recipe for success or bankruptcy of the network, its not a feasible model. You would also have no way of monitoring it because you don't know if a person bought it from an exchange or not. Receiving the funds from an exchange does not mean it was bought from it. Not only does the system you propose does not work, there is also no way to track purchases.
@@Supremax67 if a company was consistently using the networks functionality for day to day business it would make sense they would want to streamline the process by cutting out the constant procurement process of the hbar, for this to be viable either they have to risk price fluctuations or the network must allow a lock and the network risks the price fluctuation. Maybe to have a time limit on the use of the locked tokens to encourage active use of the feature only. I am not saying to lock it at the price they bought at but the price at the time of them locking into the network.
@@Leebftw -- The network doesn't have a locking feature, but if they did, this would lead to a possible bankruptcy scenario. Where cost of the transactions are not covered, forcing nodes to shutdown because of negative revenue.
@@Supremax67 you can build features onto the network that would be able to lock hbars. It is a very legitimate problem in my idea the fluctuation of price, if you had a time limit of around a week on the lock and afterwards you would receive them back the price fluctuations would be fairly insignificant and over time the network would most likely gain extra revenue from this system on average with the rise in price of hbar. In a way the network would be betting on its own growth with the feauture. Hedera nodes are ran by massive company’s who care more about the profit over time than short term fluctuations. Having strongest and most consistent use case is how to do this.
Very promising! But it left me some questions. Question 1: will we as the people get a chance to get an equal vote in the council for complex decisions? Fact, I really can confirm that complex decisions should be discussed by experts across all kinds of industries. But still a lot of smart people don't work for huge companies because they don't want to be a salary slave or a number. Lot of smart ideas these days are coming from start-ups like yourself. So these particular people have much valuable information as well that can contribute to a better future for all of us. Only votes from the council will not create a truly decentralised governance. It should be enhanced with the people out there that are willing to think about the future of humanity. All this should be happening in a very easy and accessible way (communicate and discuss potential problems/solutions). It could also be enhanced with artificial intelligence and machine learning algorithms. Only our values as humanity should be kept all the time. Question 2: The council is changed every 3 years (with possibility of extension), So how will the council lay out the long term vision if new companies joining the council could have another long term vision. If I look at Belgium's governance model it could create a lot of discussion. Because changes in the governance model will create different points of perspective. Not saying that Belgium is doing the right way of political system at the moment. But changes could create problems and instability. How can hedera overcome these issues?
This doesn't boil down to just a group of experts, unlike the smart guy with no corporate job, these companies have social responsibilities and reputations to maintain. They are under constant scrutiny from governments to do the right thing. Because they are accountable, they make for perfect governing council members. They are also impossible to coherce with money, not like a person with no job making $0/year, or a developer only earning 50K/year. You need trust and you can't achieve trust if you have someone sitting at the governing council that can easily be blackmailed.
As for your second question. You want diversity, having governing members joining in and out provides just that. That's how the market evolves, by adopting to change.
@@Supremax67 thanks for the answers! And I totally agree! You want diversity in the council but you also want enough input (different perspectives) for the current council members to make "right" decisions. There are a lot of creative and out of the box thinkers out there that could give totally new perspectives on things, even for experts as they sometimes tends to have tunnel visions :p. Maybe its also the other way around, that the government can trust the people :P. If we can solve spread of disinformation or fake news :). Like this case of Hedera in the middle east. That's really cool! I really like the assembly of the geographical scattered industry leaders of different types of industries. This is really unique and very forward thinking. Making industries communicate (sharing knowledge) with each other and learn. This could benefit human kind a lot. I think people with the most diverse cross industry knowledge have a good answers on problems we aren't even aware of today :).
